In October, Monobank customers lost millions of hryvnias using fake online services

Customers of the Ukrainian bank in the Monobank smartphone app lose millions on «non-existent exchanges» every month. In October, Ukrainian citizens lost a record 6 million hryvnias. This was announced by one of the bank’s co-founders, Oleg Gorokhovsky.

According to him, amid the war, the desire to make «easy money» is growing among Ukrainians. Gorokhovsky recalled that he had previously published statistics on fraud on Monobank cards from March to July 2023. At that time, the bank’s customers paid about UAH 3 million a month to «brokers and exchanges».

«I'm even a little embarrassed now. It’s very difficult for us to protect an 'investor' who, in his right mind, sends money to a non-existent exchange, which is an individual’s card number in a Ukrainian bank. How can we explain to them that they shouldn’t do this?» Gorokhovsky is outraged.

It is expected that by the end of the month, the amount of losses of Ukrainians will reach UAH 8−9 million.

Earlier, we reported that Monobank has no plans to add bitcoin as a payment option for its services. This was stated by the co-founder of the service Mykhailo Rogalsky. According to him, the first cryptocurrency «has a very bad reputation» among European and Ukrainian regulators.

«Since we have our own core important business, it would be illogical to jeopardize it by working with a high-risk asset,» Rogalsky emphasized.